The Building And Road Construction Equipment Market Is Estimated To Reach $282.41 Billion By 2027 At A CAGR Of 9.7% – Includes Building And Road Construction Equipment Market Statistics
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Infrastructure development in emerging and developed countries are expected to drive innovation in building and road construction equipment manufacturing, thus driving the market during the forecast period.
The global building and road construction equipment market is expected to grow from $175.54 billion in 2022 to $194.84 billion in 2023 at a compound annual growth rate (CAGR) of 11.0%. The global building & road construction equipment market size is expected to grow to $282.41 billion in 2027 at a CAGR of 9.7%.
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- By Product Type:Motor Graders, Road Roller, Wheel Loaders, Concrete Mixer, Bulldozers, Other Product Types
- By Equipment Category:Earthmoving Equipment, Material-Handling Equipment, Heavy Construction Vehicles, Other Equipment Categories
- By Application:Building Construction, Road Construction
- By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global building and road construction equipment market in 2021.
Major Market Players in the building and road construction equipment market include AB Volvo, Caterpillar Inc., Komatsu Ltd., Liebherr Group, Hitachi Construction Machinery Co. Ltd., J.C. Bamford Excavators Ltd.
The manufacturing companies in building and road construction equipment are concentrating on upgrading their technologies. The technology advancements aim to increase safety, productivity, and connectivity of equipment and decrease maintenance issues and costs. For instance, in March 2020, Komatsu, a Japan-based construction equipment manufacturer introduced hydraulic excavators*1 equipped with the KomVision Human Detection and Collision Mitigation System the company. The excavators are designed by advancing the ‘KomVision’ bird-view camera system equipped with conventional models in the Japanese market. The system identifies humans across the excavator and avoids the excavator from moving when the system detects people whenever the excavator starts to travel or swing. In October 2020, Volvo Construction Equipment, a USA-based manufacturer of construction equipment launched Volvo Active Control, an automated grading machine control system available on excavators EC250E, EC220E, and EC300E across North America. This system allows the operators to conveniently get the right depth and angle, reducing grading times by up to 45%.
The Building And Road Construction Equipment Global Market Report 2023 provides a building and road construction equipment market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The building and road construction equipment market forecast analyzes building and road construction equipment market size, building and road construction equipment market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The building and road construction equipment refer to self-propelled or towed equipment used directly in building and road construction.
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